A bill aiming to safeguard the credit of federal employees and contractors in the event of a shutdown passed the House on Friday.
The Shutdown Guidance for Financial Institutions Act, sponsored by Rep. Jennifer Wexton, D-Va., calls on financial institutions to recognize that consumers and businesses affected by shutdowns may lose access to credit and encourages those institutions to modify terms for existing loans or extend new lines of credit.
Wexton introduced the bill in April after hearing from one of her constituents in Northern Virginia’s 10th District about the financial hardships she was still facing as a result of the 35-day partial government shutdown that occurred between December 2018 and January.
“These financial difficulties also place unique pressure on our national security community, whose security clearances are jeopardized by damaged credit scores,” said Wexton in a statement. “With just a few legislative days left for Congress to take action before yet another government shutdown, this bill helps ensure that our federal workers and contractors are not punished for a shutdown they didn’t cause.”